ISLAMABAD: The Directorate General Inland Revenue of the Federal Board of Revenue (FBR) has started collecting data of big private educational institutions.
According to sources, owners of these educational institutions did not submit their real income tax returns while several send money to foreign countries via hundi and receive back after converting it into dollars. Sources further said that Directorate General Inland Revenue is now collecting details like banks accounts, tax returns, properties and living standard of the owners of big private educational institutions.
Sources also added that some owners of educational institutions have shown less income while submitting their income in tax returns and show expenses in high rates. The department will also get details of banks accounts of the owners as well as their relatives.
